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By Adewale Sanyaolu
The Board of Directors of 11 Plc, formerly Mobil Oil Plc, has announced that its Managing Director, Adetunji Oyebanji, will retire from the company effective 31 March 2026 after more than 45 years of dedicated service to the organisation. A statement conveying the retirement notice signed by the Company Secretary, Chris Meseko, was equally copied to NASD Plc and the investing public.
The Board expressed profound gratitude to Oyebanji for his leadership and invaluable contributions to the company, wishing him the very best in his future endeavours.
Oyebanji was appointed Chairman and Managing Director of Mobil Oil Nigeria Plc in October 2008 and, following the divestment of ExxonMobil, became the Managing Director/Chief Executive Officer of 11 Plc in April 2017.
The Board acknowledged Oyebanji’s remarkable career with the company as a testament to his unwavering commitment, passion and expertise in the oil and gas industry. He joined Mobil Oil Nigeria Plc in 1980 as a Marketing Representative Trainee and rose through several leadership positions including Planning Associate, Pricing Manager, District Manager, Branch Manager, Manager Fuels Services and Executive Director, Fuels.
His appointment as Managing Director/CEO in 2017 marked a significant milestone in his distinguished career, during which he steered the company through a period of transformation and growth.
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Beyond his responsibilities within the company, Oyebanji has played notable roles in the oil and gas industry and the broader economy.
He currently serves as President and Chairman of Council of the Chartered Institute of Directors Nigeria.
He also previously served as Chairman of the Major Energy Marketers Association of Nigeria as well as Chairman of the Petroleum Downstream Group of the Lagos Chamber of Commerce and Industry. In addition, he was a past Council member of the Nigerian Institute of Management and the Lagos Chamber of Commerce and Industry, and served as a board member of the Society for Corporate Governance Nigeria for over a decade.
His career also extended beyond Nigeria, having served at various points as a Project Associate at Mobil Oil Corporation’s headquarters in Fairfax, Virginia, United States, as well as Manager, Planning at Mobil Africa Sales Inc.. He later served as an Executive Director at Mobil Oil Cameroon and Mobil Oil Ethiopia. He subsequently assumed a global leadership role as Manager, Industrial and Wholesale Fuels, Africa and the Middle East, based in Belgium, reporting functionally to the Global Industrial and Wholesale Manager.
The Board thanked Oyebanji for his tireless efforts and dedication to the company and wished him a happy and healthy retirement, noting that his legacy will continue to inspire future generations.
Formerly known as Mobil Oil Nigeria Plc, 11 Plc remains a leading player in Nigeria’s oil and gas industry, delivering quality products and services to customers and building on a legacy spanning more than six decades.
